RIVERVIEW INVESTMENT HOLDINGS LLC PLAN Contribution & Employer Match
RIVERVIEW INVESTMENT HOLDINGS LLC PLAN Contribution & Employer Match
RIVERVIEW INVESTMENT HOLDINGS LLC provides the following retirement savings benefits to its employees:
RIVERVIEW INVESTMENT HOLDINGS LLC PLAN Average Participant Retirement Account Value
RIVERVIEW INVESTMENT HOLDINGS LLC PLAN Estimated Average Employee Contribution Amount
464,320.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 7,255.00 in RIVERVIEW INVESTMENT HOLDINGS LLC PLAN, assuming a 10%* annual return.
2023 & 2024 401(k) contribution limits by IRS
| Pretax and roth employee contributions | Employee and employer contributions combined | Catch-up contributions (in addition to the employee and employer combined limit, age 50 and over) | |
|---|---|---|---|
| 401(k) contribution limit for 2023 | $22,500 | $66,000 | $7,500 |
| 401(k) contribution limit for 2024 | $23,000 | $69,000 | $7,500 |
$1,440,056: this is the amount you will have saved 20 years later if you contribute the maximum of $22,500 annually for 20 years, assuming a 10%* annual return.
$4,224,165: for those who can maximize employee and employer annual $66,000 contributions for 20 years, assuming a 10%* annual return, you will be 3 times richer!
Use the 401(k) Savings Calculator to determine how much your contributions will accumulate over time.
Employer match in RIVERVIEW INVESTMENT HOLDINGS LLC PLAN
An employer match is deemed as ‘free’ money wherein your employer contributes additional funds to your allocated retirement savings plan. The matching amount can frequently be several percentage points of your compensation. Don’t avoid this free salary ‘raise’.
RIVERVIEW INVESTMENT HOLDINGS LLC PLAN Total Employer Contribution and Match Rate
RIVERVIEW INVESTMENT HOLDINGS LLC PLAN Estimated Average Employer Match
Investing in this additonal $8,191.00 for 20 years would give you extra $524,259.00, assuming a 10% annual return.
RIVERVIEW INVESTMENT HOLDINGS LLC PLAN Contribution & Match Policy
1. Employee Contribution Rates: Employees can contribute up to 90% of pre-tax annual compensation.
2. Employer Match/Contribution Conditions: The employer matches 100% of elective deferrals, up to a maximum contribution of 9% of eligible compensation for employees with a base salary of $150,000 or less, and up to 6% for those with a base salary greater than $150,000. All matching contributions are limited to a maximum of $10,000 per participant.
3. Vesting Schedule/Eligibility: Participants are immediately vested in their contributions and actual earnings. They become 100% vested in employer contributions after three years of credited service. Additionally, participants shall become 100% vested in the employer's contributions in cases of termination due to death, total and permanent disability, or normal retirement.
4. Roth 401(k) contribution: Yes, eligible participants may elect to designate all or a portion of their salary deferral contributions as Roth contributions.
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